Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: PlayStudios to acquire Branium for $70M, Aspiration CEO Cheren steps down as SPAC merger faces delay, and Southland awarded $243M contract
PlayStudios to acquire casual game developer Branium for at least $70M
Through the deal, PlayStudios (NASDAQ:MYPS) will add a number of popular casual games such as solitaire, sudoku and mahjong to its portfolio. The business added that the deal will more than double the number of average daily active users of its products.
The acquisition includes a $70m up-front cash payment, plus a further contingent consideration of undisclosed size, depending on the performance of Brainium between now and the end pf the year.
PlayStudios went public in June 2021, after agreeing to a deal with special purpose acquisition company Acies Acquisition Corporation to list on the Nasdaq Stock Exchange.READ
Aspiration CEO Cherny Stepping Down as SPAC Merger Faces a Delay
Andrei Cherny, the chief executive officer of financial-technology firm Aspiration, is stepping down from his post at the company he co-founded amid a delay in plans to merge with a special purpose acquisition company.
Olivia Albrecht, who joined earlier this year as the firm’s chief sustainability officer, is taking over as CEO, according to a person familiar with the matter who asked not to be identified discussing the move that hasn’t been announced publicly. Cherny didn’t immediately return a message for comment.
Cherny, who helped found the firm nine years ago, expedited a plan to step down given that a public listing through a merger with SPAC InterPrivate III Financial Partners Inc. (NYSE:IPVF).READ
Southland Awarded $243 Million Florida Department of Transportation US 19 Pinellas County Roadway Project
Southland Holdings, LLC, announced today that a subsidiary in its Transportation segment, Johnson Bros., has been awarded a $243 million contract to construct the US 19 Pinellas County roadway project for the Florida Department of Transportation (“FDOT”) in Clearwater, Florida.
The scope of work includes reconstructing US 19 into a six-lane, controlled access facility with frontage roads on both sides of the roadway. This project is expected to help ease traffic congestion for a community that has seen significant population growth in recent years. Construction is expected to begin in the fourth quarter of 2022.
On May 25th, 2022, Southland entered into an Agreement and Plan of Merger with publicly-traded Legato Merger Corp. II, a special purpose acquisition company (NASDAQ: LGTO).
Terms Tracker for the Week Ending December 2nd, 2022 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As we slide into December, and the holiday season, we recognized two new S-1 registration statements and zero IPOs. The two new S-1s consisted of...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC Liquidations: NightDragon, VectoIQ II, and Fortistar Sustainable Solutions Corp. Night Dragon Acquisition Corp. Will Redeem Its Public Shares and Will Not Consummate an Initial Business Combination NightDragon Acquisition Corp. (NASDAQ: NDAC) anticipates that the last trading day...
Lakeshore Acquisition I Corp. (NASDAQ:LAAA) disclosed this afternoon that its shareholders have approved its business combination with medical device company ProSomnus during a special meeting held earlier today. Approximately 92.4% of the votes cast at the meeting on the business combination proposal, representing approximately 80.5% of Lakeshore’s outstanding shares, voted to approve the deal. The SPAC disclosed...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: Embark director Elaine Chao and others sued over SPAC merger, Alvotech switches CEO and takes COO from Teva, and Uber Freight and Aurora expand pilot Embark Director Elaine Chao, Others Sued Over SPAC...
SPACInsider contributors Anthony Sozzi and Sam Beattie this week compiled their three favorite potential SPAC targets among potential targets in the security industry. We look at why they are compelling and why each could be a fit for a blank-check merger. Security is on the market’s mind and is expected to grow at a CAGR...